Increased repo rate big dampener for us: Automobile industry body

Federation of Automobile Dealers Associations (FADA) President MR Singhania said hike in repo rate is a "big dampener" for the automobile industry, particularly for price-sensitive entry-level two-wheelers and passenger vehicles segments. RBI on Friday raised repo rate by 50 bps, the fourth straight increase since May 2022. Manufacturers of two-wheelers hiked prices five times in 2021, he added.